Crypto Corner Podcast 884: Stocks Discussed: (Nasdaqgm: BITF...| MENAFN.COM

Wednesday, 05 October 2022 11:20 GMT

Crypto Corner Podcast 884: Stocks Discussed: (Nasdaqgm: BITF) (Nasdaqgs: APLD) (Nyseamerican: NILE)


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Crypto Corner Podcast 884: Stocks discussed: (NasdaqGM: BITF) (NasdaqGS: APLD) (NYSEAmerican: NILE)

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Stocks discussed: (NasdaqGM:BITF) (NasdaqGS:APLD) (NYSEAmerican:NILE)

Bitfarms Litd. (NasdaqGM:BITF ) has announced that its hashrate has exceeded the 4 exahash per second (EH/s) milestone as it commenced production at the first of two 50-megawatt (MW) warehouses under development in Argentina. The company boasts a total corporate capacity of 176 MW, with a goal of getting the aforementioned 50 MW energized by December 31, 2022. Geoff Morphy, President and COO of Bitfarms, said:

'With attractive electricity pricing established last year under an 8-year private party power contract, both facilities are expected to lower overall energy costs for our portfolio, despite rising commodity costs in the energy market. The initial production in our new farm in Rio Cuarto combined with refinements at some of our Quebec and Washington farms also pushed actual production past 4.1 EH/s.'

Applied Blockchain, Inc. (NasdaqGS:APLD ) has announced the groundbreaking of its 180-megawatt (MW) hosting facility in Ellendale, North Dakota, which occurred on September 8, 2022. This facility in Ellendale is the company's third next-generation datacenter, and the second in North Dakota. Applied Blockchain's Chairman and CEO, Wes Cummins, said:

'The community of Ellendale and representatives of North Dakota have been amazing to work with as we bring this next facility to life. Having the new 180MW facility located close to significant wind power capacity will allow it to be powered with renewable energy to further propel future high performance computing solutions for global enterprises and applications. The entire capacity of this facility is already under contract, demonstrating the significant demand we continue to have for our hosting services.'

BitNile Holdings, Inc. (NYSEAmerican:NILE ) has shared projections on its expected Bitcoin (BTC ) mining production levels. According to the press release, the company 'expects to have 7,500 miners at its Michigan data center and 6,500 miners at the Texas facility hosted by Computer North, LLC installed by the end of September 2022.' BitNile then 'expects to increase its average daily mining production to approximately 4.7 Bitcoin per day by the end of September 2022,' and '9.33 Bitcoin per day by the end of December 2022.' The firm's Executive Chairman, Milton 'Todd' Ault, III, said:

'As the market has experienced a crypto winter, our investment in the Michigan data center and our positive relationship with Bitmain allow us to have confidence in our long-term plans regarding Bitcoin mining. Our recent purchase of additional Bitcoin mining equipment demonstrates our belief in the long-term outlook for Bitcoin. The plan to grow our Bitcoin mining operations is clear, and it is rewarding to see the team continue to deliver on the goal of timely installation of new Bitcoin miners as they arrive at our Michigan data center and the Texas hosted facility.'

Sam Mowers, Investorideas

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